Hip pocket to be less healthy soon
IT’S the secret double whammy that means next month’s health fund premium rise will hit your hip pocket even harder than you expect.
The value of the government’s private health insurance tax rebate will drop on April 1, adding an extra $50 a year to the cost of your premiums.
By 2026 surging premiums will see the value of the rebate halved from the original 30% to just 16%.
This hip-pocket hit will be in addition to the $200 premium hike families are already facing on April 1.
As the cut bites and rising premiums force thousands to dump their cover, private insurers are asking the government to allow them to give people aged under 30 a 10% discount.
Health fund BUPA has announced it will provide gap-free services for children at dentists, optometrists, physiotherapists, chiropractors and podiatrists who are part of their Members First network. The extra $50 for health insurance is the result of a government cost-saving measure.